MOTOR VEHICLE INSURANCE PRODUCT DISCLOSURE STATEMENT AND POLICY

Transcription

1 MOTOR VEHICLE INSURANCE PRODUCT DISCLOSURE STATEMENT AND POLICY > Auto equity

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3 MOTOR VEHICLE INSURANCE PRODUCT DISCLOSURE STATEMENT AND POLICY MOTOR VEHICLE

4 This Product Disclosure Statement (PDS) has been designed to help you get the most out of your policy. Use the contents pages and topic index to help fnd what you are looking for. Important tasks such as taking out insurance or making a claim are explained in easy to follow steps. And we have included a glossary of words with a special meaning. When you take out an insurance policy with us, the cover we agree to provide you is set out in your current schedule, and described in this PDS, as well as any Supplementary PDS we may issue. Together, they make up the terms and conditions of your insurance contract with us. Read them carefully and store them together in a safe place. If you need more information about this PDS, please contact us or your insurance adviser.

5 Contents About This Insurance 1 A brief overview 1 Levels of cover you can choose from 1 Types of policies you can choose from 2 No Claim Bonus 3 Excesses that may apply when you make a claim 4 What This Policy Covers 6 Incident cover 6 Additional cover included in this insurance 8 Liability cover 15 Optional cover that can be added to your policy 16 Exclusions To Your Cover 18 General exclusions 19 Your Responsibilities To Us 22 Your duty of disclosure 22 Your responsibilities when you are insured with us 23 Your responsibilities when you make a claim 24 If you do not meet your responsibilities 25 Our Commitment To You 26 The General Insurance Code of Practice 26 Our guarantee 26 How CGU protects your privacy 27 How To Take Out Insurance 29 How to apply for insurance 29 How to renew your insurance 29 How to change your policy 30 How to cancel your policy 30 If you replace your vehicle 31 Your premium 31

6 How To Make A Claim 33 How to make a claim 33 How we settle your claim 34 How to resolve a complaint or dispute 36 Financial claims scheme 37 Motor Vehicle Insurance And Repair Industry Code Of Conduct 38 Glossary 39 Index 42

7 About This Insurance A brief overview Motor Vehicle Insurance provides cover for your car, motorcycle, trailer and horse float, anywhere in Australia. These types of vehicles are referred to as your vehicle in this booklet. Under this insurance you can choose from three different levels of cover, and three types of policies. Levels of cover you can choose from You can choose from three levels of cover, depending on your needs and your type of vehicle. You can choose from: Comprehensive for cars, motorcycles, trailers or horse foats. Third Party Fire And Theft for cars or motorcycles, or Third Party Property Damage for cars or motorcycles. Comprehensive provides cover for: loss or damage to your vehicle, and your legal liability for loss or damage to another person s vehicle or property. Third Party Fire and Theft provides cover for: loss or damage to your vehicle by fre or theft only, and your legal liability for loss or damage to another person s vehicle or property. Third Party Property Damage provides cover for: your legal liability for loss or damage to another person s vehicle or property. You can also broaden the scope of your cover by adding options to your cover. To fnd out what this policy covers, see page 6 P 1

8 Types of policies you can choose from We provide three types of policies for you to choose from. Motor Vehicle Insurance Policy available under all levels of cover. This policy provides cover for your car, motorcycle, trailer or horse foat. Nominated Driver Motor Vehicle Insurance Policy available under all levels of cover, but only available for cars. If you choose this policy, we will calculate your premium on the basis that your car will be driven by no more than two nominated drivers who are 25 years of age or over. The drivers you nominate will be listed on your schedule. Under this policy we will not cover any loss, damage or liability if your vehicle is driven by someone who is under 25 years of age, unless it is being: parked by a parking attendant repaired, serviced or tested, or used to transport a person in the event of a medical emergency. Nominated Driver Low Kilometre Motor Vehicle Insurance Policy available under Comprehensive cover, but only available for cars. If you choose this policy, your premium will be calculated on the basis that your car: will be driven by no more than two nominated drivers who are 25 years of age or over, and will not be driven more than 10,000 kilometres during your period of insurance. The drivers you nominate will be listed on your schedule. If you exceed the 10,000 kilometre limit, you may also need to pay an additional premium. 2

9 Under this policy we will not cover any loss, damage or liability if your vehicle is driven by someone who is under 25 years of age, unless it is being: parked by a parking attendant repaired, serviced or tested, or used to transport a person in the event of a medical emergency. This policy is not offered in Tasmania. No Claim Bonus We reward good driving by giving you a discount on your premium for each year that you do not make an at-fault claim while you are insured with us. We will reduce your premium in this way until you reach the maximum No Claim Bonus. If you make an at-fault claim, your No Claim Bonus will be reduced when you renew your policy. If your car or motorcycle is involved in an incident, we will not reduce your No Claim Bonus if: we decide the incident was not your fault, and you provide us with the name, current residential address and vehicle registration of the person who caused the incident, or your claim is for damage caused by a storm or other naturally occurring event. If you make a claim and we decide that you are at-fault, your No Claim Bonus will be reduced when you renew your policy. Earned No Claim Bonus Protection provides you with one at-fault claim during your period of insurance without it affecting your No Claim Bonus. If you make more than one at-fault claim during your period of insurance, your No Claim Bonus will be reduced at the next renewal of your policy. You will be eligible for Earned No Claim Bonus Protection if you have: held your driver s licence for eight years or more, and not had any at-fault incidents in the last two years, or been on the maximum No Claim Bonus with us for a consecutive two-year period and not had any at-fault claims in the past two years. 3

10 If you have the Earned No Claim Bonus Protection, it will be listed on your current schedule. The No Claim Bonus only applies to Comprehensive cover for your car or motorcycle. For optional No Claim Bonus, protection, see page 16 P Excesses that may apply when you make a claim An excess is your contribution towards the cost of a claim. We will tell you if you need to pay an excess when you make a claim. There are four types of excesses that may apply: basic excess the basic excess that applies to your policy, which varies depending on the make and model of your vehicle, and the State or Territory your vehicle is used age excess applies when the driver of your vehicle is less than 25 years of age inexperienced driver s excess applies when the driver of your vehicle is 25 years of age or over and has not held a driver s licence for the two consecutive years before the claim occurs additional excess applies when we have agreed to cover your vehicle, or any person authorised to drive your vehicle, under special terms. The type of excess that applies to your policy and the amount of that excess will be listed on your schedule. You may need to pay more than one type of excess when you make a claim. You will only need to pay this amount once when you make a claim. If you have a Nominated Driver Motor Vehicle Insurance Policy, or a Nominated Driver Low Kilometre Motor Vehicle Insurance Policy, and your vehicle is driven by someone other than a nominated driver, and that driver is 25 years of age or over, we will: double the basic excess, and double the inexperienced driver s excess (if applicable). 4

11 An excess will not apply if: the incident was not the fault of the driver of your vehicle, and we are provided with the contact details of the person who caused the incident, including their name, current residential address and vehicle registration, and who they are insured with you have selected the Windscreen Extension Option, it is listed on your schedule, and you are only making a claim for windscreen or window glass damage. 5

12 What This Policy Covers Incident cover If you have a Comprehensive or Third Party Fire and Theft policy, we will cover your vehicle for loss or damage as a result of any incidents that we have agreed to cover. There are a number of incidents we will only cover under specific conditions. These are listed on the following pages. When you make a claim and you are at fault your No Claim Bonus may be reduced, and you will need to pay any excesses that apply your excess is based on who is driving your vehicle and your vehicle type, and is payable once when you make a claim. For exclusions to this cover, see page 18 P Accidental damage COMPREHENSIVE We will cover your vehicle for accidental damage, including damage as a result of a collision. We will not cover your vehicle for loss or damage caused by: bushfre or grassfre, or a named cyclone within 48 hours of the start date of your policy, unless you took out your insurance with us immediately after another insurance policy covering the same vehicle ended, without a break in cover, or you: had entered into a contract of sale to purchase your vehicle, or a contract to lease your vehicle, and took out your insurance with us for the vehicle prior to taking possession of the vehicle. For a defnition of accidental damage, see Glossary page 39 P 6

13 Fire COMPREHENSIVE THIRD PARTY FIRE & THEFT We will cover your vehicle for loss or damage as a result of fire. We will not cover your vehicle for loss or damage caused by bushfre or grassfre within 48 hours of the start date of your policy, unless: you took out your insurance with us immediately after another insurance policy covering the same vehicle ended, without a break in cover, or you: had entered into a contract of sale to purchase your vehicle, or a contract to lease your vehicle, and took out your insurance with us for the vehicle prior to taking possession of the vehicle. Storm or flood COMPREHENSIVE We will cover your vehicle for loss or damage as a result of storm or flood. We will not cover your vehicle for loss or damage caused by a named cyclone within 48 hours of the start date of your policy, unless: you took out your insurance with us immediately after another insurance policy covering the same vehicle ended, without a break in cover you: had entered into a contract of sale to purchase your vehicle, or a contract to lease your vehicle, and took out your insurance with us for the vehicle prior to taking possession of the vehicle. For a defnition of food, see Glossary page 39 P 7

14 Theft or attempted theft COMPREHENSIVE THIRD PARTY FIRE & THEFT We will cover your vehicle for loss or damage as a result of theft or attempted theft. We also cover theft of the keys to your vehicle. The theft or attempted theft must be reported to the Police. See Re-coding of locks and barrels after theft of keys, on page 11 P Vandalism or a malicious act COMPREHENSIVE We will cover your vehicle for loss or damage as a result of vandalism or a malicious act. The vandalism or malicious act must be reported to the Police. For a defnition of a malicious act, see Glossary page 39 P Additional cover included in this insurance Your insurance includes a range of covers we refer to as additional cover. These covers are listed on the following pages. The additional cover provided depends on whether you have Comprehensive, Third Party Fire and Theft or Third Party Property Damage cover. When you make a claim and you are at fault: your No Claim Bonus may be reduced, and you will need to pay any excesses that apply: your excess is based on who is driving your vehicle and your vehicle type, and is payable once when you make a claim. For exclusions to this cover, see page 18 P 8

15 Baby capsules and child seats COMPREHENSIVE If baby capsules or child seats are damaged while in your vehicle, or stolen from your vehicle, we will cover their replacement cost. This cover only applies to cars. Emergency or temporary repairs COMPREHENSIVE THIRD PARTY FIRE & THEFT If your vehicle needs emergency or temporary repairs so that it can be driven or used, we will cover the cost of repairs, up to $500 (inclusive of GST) per incident. The emergency or temporary repairs must be a result of an incident we have agreed to cover. We will need receipts of the repairs. Funeral expenses COMPREHENSIVE If the driver of your vehicle dies as a result of a collision, we will pay the driver s estate up to $5,000 (inclusive of GST) towards any funeral expenses. We will only cover the funeral expenses if a funeral is held. The death must result from a physical injury that occurred within 12 months of the vehicle collision that we have agreed to cover. We will need a certifed copy of the Death Certifcate and any other evidence to support the claim. We will not cover the cost of funeral expenses for any unauthorised drivers or other occupants of the vehicle. This cover only applies to cars. Helmets and protective clothing COMPREHENSIVE If your helmet or any other protective clothing is stolen from your motorcycle or damaged in an incident, we will pay for the cost to replace them, up to $250 (inclusive of GST). This cover only applies to motorcycles. 9

16 Hire vehicle costs after theft or attempted theft COMPREHENSIVE THIRD PARTY FIRE & THEFT If your vehicle is stolen, or if it is unsafe to drive, ride or tow as a result of theft or attempted theft, we will pay (inclusive of GST) the cost of a hire vehicle from the time the theft or attempted theft occurred. We will only cover the cost of a hire vehicle: until your vehicle is recovered and repaired, or until we settle your claim if your vehicle is a total loss up to a total of 14 days, whichever is the shortest period of time. The hire vehicle must be similar to your own vehicle: we will help to arrange a hire vehicle similar to your own vehicle. We will not cover: loss or damage to the hire vehicle, or any costs to run the hire vehicle, including the cost of fuel any insurance excess or other costs, including rental bonds which you may be liable for under the hire agreement, or any other additional hire costs. Legal costs for a coronial inquiry COMPREHENSIVE THIRD PARTY FIRE & THEFT THIRD PARTY PROPERTY DAMAGE If you, a nominated driver or an authorised driver require legal representation before a coroner, we will cover the legal costs, up to $5,000 (inclusive of GST). We will only cover legal costs: for you, the nominated driver or the authorised driver for a coronial inquiry that occurs as the result of an incident we have agreed to cover. 10

17 Personal items COMPREHENSIVE If personal items are damaged in an incident or stolen from your locked car, we will cover the cost to repair or replace them, up to $500 (inclusive of GST). We will only cover loss or damage as a result of theft or attempted theft from a locked car. The theft or attempted theft of personal items must be reported to the Police. We will not cover: money, cheques, fnancial transaction cards, or property used for earning an income. This cover only applies to cars. For a defnition of personal items, see Glossary page 40 P Removal of debris COMPREHENSIVE THIRD PARTY FIRE & THEFT If your vehicle is damaged, we will cover the reasonable costs to remove the vehicle debris from the site where it occurred. The debris must occur as a result of an incident we have agreed to cover. Re-coding of locks and barrels after theft of keys COMPREHENSIVE THIRD PARTY FIRE & THEFT If the keys to your vehicle are stolen, we will cover the cost to repair and re-code your locks and barrels, up to $1,000 (inclusive of GST). We will provide this cover: if the keys to your vehicle are stolen, and the locks and barrels to your vehicle are not damaged. The theft must be reported to the Police. 11

18 Replacing your vehicle after a total loss COMPREHENSIVE If your vehicle is a total loss as a result of an incident, we may decide to replace your vehicle with a new vehicle. We will only do this if your vehicle is: a car less than two years old and has not travelled more than 30,000 kilometres, or a car more than two years old, but less than three years old, and has not travelled more than 50,000 kilometres, or a motorcycle less than one year old. The vehicle replacement must occur as a result of an incident we have agreed to cover. For details of how we settle total loss claims, see page 34 P Storage costs for your vehicle COMPREHENSIVE THIRD PARTY FIRE & THEFT If your vehicle is put into storage while we settle your claim, we will cover the reasonable storage costs. We will only cover the storage costs from the time the claim is lodged until the claim is settled. The storage must occur as a result of an incident we have agreed to cover. Towing and transport of your vehicle COMPREHENSIVE THIRD PARTY FIRE & THEFT If your vehicle is damaged in an incident and cannot be driven or used, we will tow it from the scene of the incident to: a place of safety the nearest repairer, or any other place we agree to. 12

19 We will cover the cost of one tow, however: if there is more than one tow, we will decide if it is covered. In addition, if the incident occurs more than 100 kilometres from your home, we will also cover the cost of transporting your vehicle, up to $500 (inclusive of GST). If we do this, we will cover: transport from the place where your vehicle is repaired if it is repaired more than 100 kilometres from your home, we will transport it to your home after the repairs have been completed, or transport to a repairer in your local area. The tow or transport of your vehicle must occur as a result of an incident we have agreed to cover. We will only provide this cover under Third Party Property Damage if you are making a claim for uninsured motorist damage. Trailers attached to your vehicle COMPREHENSIVE If a trailer suffers loss or damage while attached to your vehicle, we will pay: the cost to repair your trailer, or you the market value of your trailer up to $1,000 (inclusive of GST), whichever is the least amount. The trailer must be attached to your vehicle at the time of the incident. The loss or damage to your trailer must occur as a result of an incident we have agreed to cover. We will not cover the contents of the trailer. 13

20 Transport or accom modation when you are away from home COMPREHENSIVE THIRD PARTY FIRE & THEFT If your vehicle is damaged in an incident more than 100 kilometres from your home and cannot be driven or used, we will cover the cost of: transportation for you and your passengers to your home or destination, or temporary accommodation for you and your passengers for one night up to $500 (inclusive of GST) in total. The damage to your vehicle must occur as a result of an incident we have agreed to cover. Uninsured motorist damage THIRD PARTY FIRE & THEFT THIRD PARTY PROPERTY If your vehicle suffers loss or damage as a result of a collision with an uninsured vehicle and you are not at fault, we will cover the cost to repair your vehicle, including towing your vehicle up to $5,000 (inclusive of GST). The vehicle that caused the damage to your vehicle must be uninsured. You will need to provide us with: the name and current residential address of the driver responsible for the collision registration details of the other vehicle proof that the other vehicle was uninsured. We must agree that the collision was the other driver s fault. For towing and transport of your vehicle, see page 12 O 14

21 Liability cover We will cover you, a nominated driver, an authorised driver, or passengers of your vehicle, for legal liability if your vehicle or a substitute vehicle is involved in an incident that causes loss or damage to someone else s property, or death or bodily injury to other people. Liability COMPREHENSIVE THIRD PARTY FIRE & THEFT THIRD PARTY PROPERTY We will cover liability claims up to $30,000,000 (inclusive of GST) for any incident. This amount includes any legal costs that must be paid to defend the claim and any costs awarded against the person who was at-fault. We will cover you, a nominated driver or an authorised driver for any liability that arises from: loading or unloading goods the use of your vehicle or substitute vehicle, or any one trailer, caravan or broken down vehicle attached to your vehicle goods falling from your vehicle or substitute vehicle, or using your vehicle or substitute vehicle on behalf of you or their employer, principal, partner or the Australian, State or local government. We will cover passengers of your vehicle for any liability that arises from getting in or onto, being in or on, or getting out of or off your vehicle or a substitute vehicle. We will only cover liability for death or bodily injury when there is no insurance required by law that already provides this cover. If this insurance was available to you and you did not take it, we will not pay the claim. For exclusions to this cover, see page 18 P 15

22 Optional cover that can be added to your policy You can broaden the scope of your cover by adding one of the following options. You will need to apply for this cover, and pay an additional premium. Any options that we agree to add to your policy will be listed on your current schedule. Wind screen extension COMPREHENSIVE If you add this option, we will cover the costs to repair or replace the windscreen or window glass of your vehicle when there is no other damage, without: affecting your No Claim Bonus, and you paying an excess. We will only cover this once during your period of insurance. This option does not apply to trailers. For exclusions to this cover, see page 18 P For more options you can add to your policy, see next page P One at-fault claim protection COMPREHENSIVE If you add this option, we will protect your No Claim Bonus for one at-fault claim during your period of insurance. To be eligible, you must be on the maximum No Claim Bonus. If you make more than one at-fault claim during your period of insurance, your No Claim Bonus will be reduced at the next renewal of your policy. You may automatically qualify for Earned No Claim Bonus Protection. This option only applies to Comprehensive cover for your car. For exclusions to this cover, see page 18 P To fnd out about your No Claim Bonus, see page 3 O 16

23 All at-fault claims protection COMPREHENSIVE If you add this option, we will protect your No Claim Bonus for all at-fault claims during your period of insurance. To be eligible, you must be on the maximum No Claim Bonus. You may automatically qualify for Earned No Claim Bonus Protection. However, you will still need to choose this option if you want to be protected for all at-fault claims. This option only applies to Comprehensive cover for your car. For exclusions to this cover, see page 18 P To fnd out about your No Claim Bonus, see page 3 O 17

24 Exclusions To Your Cover Any cover we provide is subject to the following exclusions. Incident, additional, and optional cover exclusions We will not cover: any other costs you incur because your vehicle is damaged, stolen or burnt reduction in value of your vehicle due to its age and condition costs of any part, or parts, of your vehicle that wear out repairing or replacing parts that have failed or broken down rust or corrosion in, or on, your vehicle failure of the body and frame of your vehicle, or mechanical or electrical breakdown, unless: 18 the failure or breakdown results in damage to your vehicle by accident or fire damage to the tyres on your vehicle that occurs by applying the brakes, or by punctures, cuts or bursting of the tyres. Liability exclusions We will not cover: penalties, fnes or awards of aggravated, exemplary or punitive damages made against you, a nominated driver, an authorised driver, or a passenger incidents where there is insurance required by law that provides cover for your liability, or it was available to you, and you did not take it out any disease that is transmitted by you, any member of your family who normally lives with you, a nominated driver, an authorised driver, or any passengers. liability for any agreement or contract you, a nominated driver, or an authorised driver enter into, unless: the nominated driver, or the authorised driver would have been liable without the agreement or contract

25 damage to property that belongs to, or that is in the control of: you, any member of your family who normally lives with you, or any other person who normally lives with you a nominated driver, or any member of the nominated driver s family who normally lives with that nominated driver an authorised driver, or any member of the authorised driver s family who normally lives with that authorised driver any person you, a nominated driver, or an authorised driver employ, however: we will pay claims arising from damage to a residential building that is rented and occupied by any of the above people personal injury to: you, any member of your family who normally lives with you, or any other person who normally lives with you a nominated driver, or any member of the nominated driver s family who normally lives with that nominated driver an authorised driver, or any member of the authorised driver s family who normally lives with that authorised driver any person you, a nominated driver, or an authorised driver employ. General exclusions We will not cover any loss, damage or liability: that occurs outside Australia that does not occur within your period of insurance if there is a special condition listed on your current schedule that states that there is no cover when the vehicle is driven by a specifed person, and that person was driving the vehicle at the time of the incident deliberately caused by you, a member of your family, a nom inated driver, or an authorised driver 19

26 where you, a nominated driver, or an authorised driver had a blood alcohol level higher than the level allowed by law were under the influence of alcohol or drugs refused a test to determine alcohol or drug levels, including a failure to report to a Police station within the legal time frame following an incident that requires a drug or alcohol test, or did not remain at the scene of the incident for the time required by law, or until the Police arrived without any reasonable excuse however, this exclusion will only apply to you if you knew, or should have known, that the nominated driver, or the authorised driver was under the infuence of alcohol or drugs, or had a blood alcohol level higher than the level allowed by law: the law that will apply is the law of the State or Territory where the loss, damage or liability occurred. if you have chosen a Nominated Driver Motor Vehicle Insurance Policy or a Nominated Driver Low Kilometre Motor Vehicle Insurance Policy and your vehicle is driven by someone who is under 25 years of age, unless it is being: parked by a parking attendant repaired, serviced or tested, or used to transport a person in the event of a medical emergency if your vehicle or a substitute vehicle is being used for: an unlawful purpose hire carrying passengers and you, a nominated driver or an authorised driver get paid for doing so (this does not include a private transport pooling arrangement, or if your employer pays you a travel allowance) carrying goods and you or a nominated driver or authorised driver are paid for doing so any purpose other than that for which your vehicle was made a motor sport 20

27 that arises from the lawful destruction or confscation of your property if you have not met your responsibilities to us. Check your responsibilities, see page 22 P if your vehicle or a substitute vehicle is: in an unsafe condition, and you knew, or should have known that it was unsafe to use used, or driven by, an unlicensed driver unregistered, unless you have told us about it, and we have agreed to cover the vehicle damaged in an incident and you do not take reasonable steps to prevent further loss or damage, including if your vehicle is stolen and then found, and you have been told where it is. We will not cover any loss, damage or liability as a result of: war or warlike activity: war does not have to be declared hostilities, rebellion, insurrection or revolution contamination by chemical and/or biological agents, which results from an act of terrorism anything nuclear or radioactive failure or inability of any item, equipment or computer software to recognise correctly, to interpret correctly or to process correctly any date, or to function correctly beyond any time when that item, equipment or computer software has not recognised, interpreted or processed correctly any date, unless: it results in loss or damage to your vehicle for an incident that we have agreed to cover. 21

28 Your Responsibilities To Us Your duty of disclosure When you take out, renew, or change or vary a policy, or when you make a claim, you have a duty to answer our questions truthfully and provide us with any information that could affect our decision to insure you, or the terms of your policy. This is called your duty of disclosure. What you must tell us when you apply to take out this policy When applying to take out insurance we will ask you certain questions. When answering these questions, you must be honest, and you have a duty under the Insurance Contracts Act 1984 to tell us anything: known to you, and which a reasonable person in the circumstances, would include in answer to any question. We will use your answers to help us decide whether to insure you and anyone else under this policy, and on what terms. Who you are answering the questions for It is important that you understand you are answering the questions in this way on behalf of yourself and anyone else that you want to be covered by the policy. If you do not answer our questions in this way If you do not answer our questions in this way, we may reduce or refuse to pay a claim, or cancel the policy. If you answer our questions fraudulently, we may refuse to pay a claim and treat the policy as never being in place. 22